{"id":119370,"date":"2018-01-10T07:48:05","date_gmt":"2018-01-10T12:48:05","guid":{"rendered":"http:\/\/countingpips.com\/?p=119370"},"modified":"2018-06-01T15:46:46","modified_gmt":"2018-06-01T15:46:46","slug":"eurusd-expect-1-19-to-be-tested","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/01\/eurusd-expect-1-19-to-be-tested\/","title":{"rendered":"EURUSD: expect 1.19 to be tested"},"content":{"rendered":"<div id=\"inves-1443833268\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">January 10, 2018<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><strong>By Gabriel Ojimadu, Alpari<\/strong><\/p>\n<div class=\"reviews-item__content\">\n<p><strong>Previous:<\/strong><\/p>\n<p>Trading on the euro\/dollar pair has closed down for the 3<sup>rd<\/sup>\u00a0day in a row. This downwards correction comes to 173 pips. The euro has come under pressure after news from Japan (via the EURJPY cross), growth in US bond yields, as well as some technical factors.<\/p>\n<p>The Bank of Japan has reduced its purchases of long-dated bonds, which traders have taken to mean that the bank is winding down its stimulus program this year. US bond yields have risen from 2.48 to 2.56 (+3.2%).<\/p>\n<p>Aside from the above, traders had some other negative factors in mind during the downwards correction, namely the upcoming parliamentary elections in Italy as well as the difficulties in forming a government in Germany. In the US session, the euro dropped to 1.1916 and the pair is currently going through a correctional phase.<\/p>\n<p><strong>Day\u2019s news (GMT+3):<\/strong><\/p>\n<ul class=\"list list_type_disc\">\n<li>10:45 France: industrial output (Nov).<\/li>\n<li>12:30 UK: industrial production (Nov), manufacturing production (Nov), total trade balance (Nov).<\/li>\n<li>16:00 UK: NIESR GDP estimate (Dec).<\/li>\n<li>16:30 Canada: building permits (Nov).<\/li>\n<li>16:30 USA: import price index (Dec).<\/li>\n<li>18:30 USA: EIA crude oil stocks change.<\/li>\n<\/ul>\n<p align=\"center\"><img decoding=\"async\" src=\"https:\/\/alpari.com\/data\/media\/trunk\/images\/Analytics\/2018\/01\/eur_100118.png\" alt=\"\" \/><\/p>\n<p align=\"center\">Fig 1. EURUSD hourly chart. Source: TradingView<\/p><div id=\"inves-1528250991\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p>My predictions for yesterday rang true. The bears reached both their targets (1.1945 and 1.1925). Since the euro crosses were also trading down, our main pair didn\u2019t experience any intraday rebounds.<\/p>\n<p>A correction has started from 1.1916. Sellers have been trying to break this level down for 4 hours, to no avail. Judging by the hourly indicators, the correction seems to be over, so today I\u2019m predicting a drop to 1.1900. I don\u2019t think our pair will drop any further than this given that the TR3 trend line has been broken through.<\/p>\n<div class=\"s_invisible_yes\">Source: &#8220;<a href=\"https:\/\/alpari.com\/en\/hidden_copyright\/\" rel=\"nofollow\">EURUSD: expect 1.19 to be tested<\/a>&#8220;<\/div>\n<\/div>\n<div><\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Gabriel Ojimadu, Alpari Previous: Trading on the euro\/dollar pair has closed down for the 3rd\u00a0day in a row. This downwards correction comes to 173 pips. The euro has come under pressure after news from Japan (via the EURJPY cross), growth in US bond yields, as well as some technical factors. The Bank of Japan [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-119370","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/119370","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=119370"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/119370\/revisions"}],"predecessor-version":[{"id":119374,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/119370\/revisions\/119374"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=119370"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=119370"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=119370"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}